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Gotcha, Yeah, he said that in an interview I believe (maybe for the Market Wizards book?), I know what you are talking about.

When scanning for potential trades is there any use to having a view on the overall market direction? For example, will you only take pullback trades on individual stocks IF your view of the overall market is bullish? The same goes for short setups. Personally, I feel that this just adds...

How did you trade stock index futures?

For those of you who are options sellers, how do you know when IV is high? Are you looking at Hist vol vs IV, some type of IV percentile over the last 52 weeks, etc? Im trying to do some research on Iron Condor and short Strangle strategies but what might be a good criteria to have some idea...

That meme basically summarizes my trading journey in a nutshell . got a nice laugh from that lol

that's def the exception, not the norm.

At 1 point per day, I only got a profit of around $13k in total. Seems like its not at all possible on a 50k account.

search youtube, you will find plenty.

Okay so maybe my thought process behind this is wrong but in my mind, the only way to potentially trade for a living would be the day trading route. Here is my thought process: As a day trader, let's say you do 2-3 trades per day and you risk 1% of your capital on every trade. You have a very...

Fair point. I think I was thinking of competition more in the sense that markets are highly competitive and therefore, the edge you can pull out from it would be razor thin. I agree with everything you said above though, that makes sense.

I think reading up and listen to a ton of different interviews led me to thinking that trading can provide me better returns and a better lifestyle.

Yes, I traded a live account. Lost 4k day trading the ES and then haven't traded since as I am now back to the drawing board.

You are the second person who mentioned to me trading spreads. Literally almost mirroring exactly what you said about technicals also.

- No family to support - I live below my means so yes, even though I am NYC suburb area I really don't have too many expenses. - Truthfully, at this point my goal would just be to generate some income from trading and being consistent. I know that may sound stupid but since I have not had...

What are your goals? To earn enough returns on my capital through trading to support myself. What methods are you employing to meet your goals? Right now, just been trying to learn. I haven't progressed really any further yet. Is it working? No (not for active trading at least). I think a big...

I initially lost about 4k when I first started, then made it all back and thensome over the years indexing. Haven't actively traded since then though.

I do think I have a genuine interest in looking at financial markets. However, I also think the main reason for trading is to make money (why wouldn't it be? Its a business after all) and if I don't see that happening, or the outcome is not something realistic then why go down that path?

Well, I never came into trading thinking it was a get rich quick overnight route. I always looked at it as a business. Acutally, I will say this, when I first started my research back in 2011, I did fall for the "x amount per day" path, but soon realized the harsh reality that it doesn't work...

Would you have any recommendations for a start? I feel like I am getting distracted because there is so much fluff out there, I am having a hard time finding whats valuable and whats not.

Thats how I feel right now; wasting all my time with nothing to show for it lol. I have the textbook knowledge, but what does that even get me? Nothing. Regarding family, I am single with no family and I live below my means so I do not need a really hight COL to support myself.